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Invest in Your Property’s First Impression

Invest in Your Property’s First Impression

Some properties make a great first impression. It’s called curb appeal and paying attention to it can make your property easier or more difficult to find, while also helping you keep good tenants. 

Time to fix an existing eyesore

Take a good look at your investment property through the eyes of a prospective tenant. What is your first impression?  If you don’t want to live there, it’s time to make some changes. Address any peeling paint and lackluster landscaping right away. If you ignore curb appeal, all the high-end interior finishes in the world won’t make much difference. Your property will stay vacant, and your portfolio will suffer.

Prevent the ugly with regular maintenance

Sticking to a regular maintenance schedule is the most effective way to keep your property in tip-top shape, looking its best to attract your ideal tenant. Don’t neglect seasonal landscape changes, especially tree and hedge pruning. Touch up exterior painting when and where it’s needed. Add finishing touches when you can, and don’t be afraid to spend a little money. The return on investment you receive by achieving 100 percent occupancy justifies the relatively low cost of exterior maintenance. 

Enlist tenants’ help

Current renters can help keep your property looking great, or they can ruin its drive-by charm. Ensure your tenants do their part to keep trash and non-running vehicles off your property. Also, encourage them to add their own tasteful touches to their home’s exterior, such as potted plants.

Create a lasting first impression with Class A Management

If your investment property needs help with curb appeal and creating a first impression that attracts your ideal tenant, Class A Management is ready to take on the challenge! The development services offered by our experienced team can help you decide on the best exterior (and interior) remodels or upgrades to heighten the appeal of your property.

Contact Class A Management today to keep your property from becoming a slum (or at least looking like one). We know what renters want and can use an objective eye to create a property that is in high demand. 

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Multifamily vs. Single-family Investments: 5 Reasons Multi Wins

Multifamily vs. Single-family Investments: 5 Reasons Multi Wins

If you’ve decided to purchase a rental income property, but you’re wavering between the single-family and multifamily, you’ve come to the right place. In a head-to-head comparison, there are five simple reasons why a property investment with multiple units yields higher gains over the life of your investment:

1. More tenants lead to greater income potential.

Multifamily properties naturally require more renters, which leads to more rent collected. Also, vacancies aren’t a 100 percent income loss like with a single family. While more tenants also mean more need for maintenance and solid property management, building a great team from the beginning lessens any potential headaches.

2. Younger generations want apartments.

Younger generations don’t want to mess with maintenance, a house, or a yard. They’re also looking for amenities that only apartment communities offer. Apartment living is a primary choice for recent graduates and young professionals.

3. Multifamily communities appeal to downsizing Baby Boomers.

For many of the same reasons as their younger counterparts, Boomers want apartments as they downsize from their high-maintenance family homes. In growing numbers, these young-at-heart retirees choose communities that offer amenities, convenience, and community, over retirement communities.

4. Multifamily requires on-site staff.

That’s not a negative. On-site staff means a core group of trained professionals will handle all maintenance and business aspects of your investment property. That’s a win for property owners. Building a reliable property management team reduces your day-to-day responsibilities. You can sit back, relax, and let your investment work for you.

5. Per rental unit, multifamily is a better deal.

If you were to purchase 150 single-family rental units, you’d pay a pretty penny for that investment. Multifamily offers an efficiency of scale in a compact package and can compete price-wise with even one single-family property any day. This means you’ll get a quicker and more substantial return on investment, and that’s what it’s all about.

Class A Management Multifamily and Single-Family Investment Process

The Class A Management team is here to walk you through the investment process and property management lifecycle, including:

  • assessment 
  • due diligence
  • purchase decision, and 
  • everything that follows

Contact us today to learn more about building or expanding your investment portfolio through multifamily income properties. 

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Multi-family Property Makes Cents

Multi-family Property Makes Cents

A multi-family property can be a lucrative investment. Dоwnturns іn thе есоnоmу have become all too commonplace. Yet, while markets ebb and flow, real estate investments offer greater versatility to the avid investor. Follow the need for housing rather than gambling on the latest trend. Tаke аdvаntаgе оf орроrtunіtу durіng any rесеssіоn by shifting your fосus to income properties.

Investment opportunities

Adding rental property investment to your portfolio can decrease risk during uncertain times. New real estate gives the investor many routes to prosperity. Multi-family housing ranges from duplexes to high-rise condominiums

The guidelines below offer a fresh perspective on the benefits of property investment.

  • Саshflоw is thе mаіn rеаsоn to іnvеst іn rеаl еstаtе. Іnvеstіng іn араrtmеnts increases саshflоw sіmрlу bесаusе thеrе аrе mоrе fаmіlіеs undеr thе оnе rооf gеnеrаtіng mоrе rеnts fоr уоu еvеrу mоnth.
  • Invest with lеss rіsk. Моst реорlе thіnk thе bіggеr mоrtgаgе and dеbt equals a greater rіsk. Yet, the opposite is true. Whеn уоu buу араrtmеnt buіldіngs уоur rіsk оf vасаnсіеs аnd mоnthlу overhead аrе sрrеаd оvеr multірlе tеnаnts. 
  • Bеnеfіt frоm есоnоmіеs оf sсаlе. Тhе mоrе unіts іn а соmрlех, thе grеаtеr thе есоnоmіеs оf sсаlе (uр tо а роіnt). In lаrgеr араrtmеnt іnvеstmеnts, thе реr unіt ехреnsеs аrе lоwеr lеаvіng mоrе іnсоmе аvаіlаblе fоr the investor. The lоwеr ехреnsеs реr unіt the hіghеr оvеrаll саshflоw. 

For long-term investors, multi-family properties make sense. They can leverage the strоngеr саsh flоw frееd uр bу есоnоmіеs оf sсаlе tо hіrе а соmреtеnt, рrоfеssіоnаl рrореrtу mаnаgеmеnt соmраnу like Class A Management.

Multi-family property management

A professional property management company manages all aspects of the investment. So, handing off these responsibilities аllоws уоu time to manage more important things like family, travel, and other investments.

Class A Management has the expertise to handle every step of the property investment process. From acquisitions and renovations to day-to-day management duties, our team of professionals minds the details so you can just sit back and watch your portfolio grow. 

Contact us today to speak with a knowledgeable team member about your current property investments or opportunities to expand your holdings.

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Property Investment Opportunities in A Growing Industry

Property Investment Opportunities in A Growing Industry

The demand for multifamily living continues to increase. High demand is good news for those involved in investment property ownership and management. In addition to continued high occupancy, on a national level, industry experts predict the nation will need an additional 4.3 million multifamily units by the year 2035. The current demand for new multifamily units is 266 thousand per year just to meet demand. 

What does this mean for property investment opportunities in Texas? 

Texas property investment opportunities and industry overview

Texas is home to 16 major cities. Each of these cities has a unique local property investment market. The one thing they all have in common is their significant contributions to a heavy statewide industry. 

The multifamily housing industry in Texas currently represents:

  • 4 million residents
  • 2.27 million apartment homes
  • $8.3 billion contributed to the Texas economy

“Now is a great time for current investment property owners and those wishing to invest for the first time,” states Cathy Fontana, owner and CEO of Class A Management. “We closely monitor all aspects of the Texas investment property industry. New construction and community expansion projects are creating good opportunities to expand your investment.” 

Class A Management actively works with clients to positively leverage high industry demand to maximize investor returns. 

Find the information you need with Class A Management

To meet current industry demands, 47 thousand new units across Texas must enter the market. Dallas and Fort Worth markets need to contribute 19 thousand of those units to meet yearly local demand. 

For over four decades, our team of multifamily industry experts has continued to provide unparalleled service for both investors and residents. By closely watching industry and market trends and accurately interpreting relevant data, Class A Management skillfully manages your current investment holdings and presents opportunities for potential investment expansion. Our team makes assessments and conducts due diligence, providing you with the information you need to make investment decisions. Once you decide to expand your property investment portfolio, we will be with you through the whole acquisition process with our brokerage and development services, then provide productive property management. 

Contact us to discover all the data associated with the communities where you have investments, then discuss how this data helps identify the best investment opportunities for your local market. 

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Renters Beware: Due diligence is necessary

Due diligence is important for tenants, too. This image depicts a desk full of papers indicating research is underway.

Renters expect that their future landlords will perform due diligence by checking their references before renting them a home. But it shouldn’t be a one-way street. When they’re entering into a legal contract with a landlord, tenants also have a responsibility to check out the property owner or manager.

Here’s a due diligence checklist of things you might want to research before you sign a lease:

  • Interview current renters and neighbors of the rental property. Ask them: How do they like living there? Is the property well-kept? Are repairs made quickly? Are there any other issues?
  • Check with local law enforcement to see if the address and neighborhood have had recent law enforcement involvement.
  • Check local courthouse records for a notice of default on the landlord or the property address. You won’t want to sign a lease that carries the potential of bank foreclosure.
  • Call your local Better Business Bureau and Chamber of Commerce, and ask about your landlord by name and company name.
  • See how apartments stack up against the competition by researching and reading reviews.
  • Google the property owner, property manager, property name and company name. You might be surprised just how easy it is to find poor reviews, legal proceedings, news stories, and other information you’ll need to make an informed decision before signing a new lease.

Interviewing a landlord when you first tour a property only provides you with part of the big picture. Take these few extra steps to conduct a thorough vetting of any potential landlord or property management company. Once your bases are covered, you’ll enjoy your renting experience more knowing exactly who is on the other end of your lease agreement.

Ready for a property management company that truly puts its tenants first? Class A Management has thousands of units under management and we welcome the opportunity to show you around. Contact us today to schedule a tour.